Can't find a good way, but here's an ugly though hopefully not entirely bad way of doing it:
jQuery(document).ready(function ($) {
var $pickerInput;
$('input').ColorPicker({
onSubmit: function(hsb, hex, rgb, el) {
$(el).val('#' + hex);
$(el).ColorPickerHide();
},
onBeforeShow: function () {
$(this).ColorPickerSetColor(this.value);
$pickerInput = $(this);
},
onHide: function(picker) {
$pickerInput.val('#' + $(picker).find('.colorpicker_hex input').val());
}
})
.bind('keyup', function(){
$(this).ColorPickerSetColor(this.value);
});
});